Welcome to our dedicated page for Lightpath Technologies news (Ticker: LPTH), a resource for investors and traders seeking the latest updates and insights on Lightpath Technologies stock.
LightPath Technologies Inc. (NASDAQ: LPTH) is a premier global provider of optics, photonics, and infrared solutions, with over 25 years of experience serving blue chip customers across the industrial, defense, telecommunications, testing and measurement, and medical industries. The company designs, manufactures, and distributes a comprehensive range of optical components such as molded glass aspheric lenses and assemblies, infrared lenses, thermal imaging assemblies, fused fiber collimators, and gradient index (GRADIUM®) lenses.
Headquartered in Orlando, Florida, LightPath operates with manufacturing and sales offices in Dallas, Texas, Latvia, and China. The company’s vertically integrated approach ensures high levels of optical integration, cost efficiency, and superior quality.
LightPath is known for its proprietary materials, including the BlackDiamond™ (BD6) chalcogenide-based glass lenses, and has been recognized with the William C. Schwartz Industry Innovation Award for pioneering infrared optics manufacturing technologies. The company’s ISO 9001:2008 certification underscores its commitment to quality and excellence.
In recent developments, LightPath launched the BDNL-4, a new infrared glass material that is a key component in the chalcogenide glass series, designed to replace Germanium in infrared optics. This material, developed in collaboration with the US Naval Research Laboratories (NRL) and the US Department of Defense (DoD), offers significant advantages, including a negative thermo-optic coefficient for athermalization and multi-spectral capabilities.
The company has expanded its defense market presence, securing a European Defense license and achieving a 30% revenue increase from defense sales. LightPath has also introduced innovative products like the uncooled HS LWIR thermal camera and the Mantis™ camera for high-temperature process monitoring, positioning itself strongly in the rapidly growing defense and industrial markets.
LightPath’s strategic shift towards providing customized lens assemblies and advanced optical solutions, as evidenced by its collaboration with Lockheed Martin on a new missile program, marks a significant evolution from its traditional role as a components manufacturer. The company’s third-quarter financial results highlighted this transformation, with substantial investments in new materials, expanded production capacities, and a growing sales backlog, despite current revenue and gross margin challenges.
For more detailed updates on LightPath Technologies Inc., visit www.lightpath.com.
LightPath Technologies (LPTH) reported its fiscal 2022 Q3 results, with revenue at $8.3 million, down from $10.7 million year-over-year. A net loss of $495,000 was reported, compared to $223,000 in the same quarter last year. The decrease was impacted by COVID-19 disruptions in China and lower infrared product sales, which fell 42%. The company announced a strategic shift towards engineered solutions and has seen improvements in margins due to operational efficiencies. Notably, total backlog stood at $19.7 million as of March 31, 2022.
LightPath Technologies (NASDAQ: LPTH) has scheduled its fiscal 2022 third quarter financial results announcement for May 12, 2022, post-market close. A conference call will be held the same day at 5:00 PM ET, with dial-in numbers provided for both domestic and international participants. Investors can access a live webcast through the company's website. A replay of the call will be available until May 26, 2022. LightPath is recognized for its vertically integrated optics and infrared solutions in various industries, emphasizing its proprietary products and manufacturing capabilities.
LightPath Technologies, Inc. (NASDAQ:LPTH) has engaged MZ Group to enhance their investor relations and financial communications strategy. This collaboration aims to improve the company's visibility in key markets and promote its engineered optical solutions. CEO Sam Rubin highlighted the company's growth potential in the multi-billion dollar photonics sector. MZ Group, known for its expertise in investor relations, will assist in coordinating investment conferences and enhancing brand awareness among financial media.
LightPath Technologies (NASDAQ:LPTH) announces CEO Sam Rubin's invitation to speak at the National Day of Glass conference in Washington, DC from April 5-7, 2022. His presentation will focus on the company's supply chain strategies for infrared glass, emphasizing alignment with White House Executive Order 14017. This aims to reduce reliance on germanium imports from China and Russia, identified as critical by the Department of Defense. Additionally, Rubin will present at the SPIE Defense + Commercial Sensing conference in Orlando, highlighting innovative supply chain methods. Presentation materials will be available on their website.
Attollo Engineering has partnered with LightPath Technologies Inc. (NASDAQ: LPTH) to design and supply freeform optical components for Attollo's LiDAR products. This collaboration aims to enhance the performance of Attollo's Laser Rangefinders while reducing costs and weight. Utilizing LightPath's precision molding technology will facilitate quick production scaling. Both companies are focused on delivering cutting-edge solutions in infrared systems for unmanned aerial vehicles (UAVs), emphasizing accuracy and reliability.
LightPath Technologies (NASDAQ:LPTH) will participate in the Maxim Group Virtual Growth Conference from March 28-30, 2022. The presentation will be accessible to Maxim Group clients and registered attendees via a provided link, active only during the event. Interested investors can request virtual meetings with management through Maxim representatives. LightPath specializes in optical and infrared technologies, serving various industries including defense and telecommunications. More information will be available on its website during the conference.
LightPath Technologies (NASDAQ: LPTH) updates on operational impacts from the recent COVID-19 outbreaks in China and the Russia-Ukraine war. The company reported 1,337 new COVID cases in China as of March 13, 2022, exceeding the year’s prior total. While LightPath continues operations, some employees are quarantined, affecting supply chains and expected revenue reductions of $1.0 to $1.25 million for the fiscal third quarter ending March 31, 2022. However, there have been no order cancellations, indicating stability. Upcoming financial results will be reported on May 12, 2022.
LightPath Technologies (NASDAQ: LPTH) announced military qualification for its Diamond Like Carbon (DLC) coating process on Black Diamond (BD6) infrared lenses. This milestone enables access to the significant defense market, as military contracts require high-volume production. The qualification follows rigorous testing, enhancing the company's manufacturing capabilities in Florida and Latvia. LightPath has also secured an exclusive optical license from the U.S. Navy, facilitating growth in the infrared imaging sector projected to reach $8.3 billion by 2025.
LightPath Technologies reported a fiscal 2022 Q2 revenue of $9.2 million, a 7% decrease year-over-year. The company is experiencing growth in its freeform optics segment, with 8 ongoing projects expected to generate $1-5 million annually each. LightPath has expanded its manufacturing capabilities and secured a $4.2 million supply agreement. However, it faced a $1.1 million net loss, attributed to management transition expenses in China and a drop in telecommunications orders. Cash reserves stood at $5.1 million with total debt of $4.7 million.
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